asked the Minister for Local Government if he will indicate the amounts raised by way of loan or bank overdraft by Cork Corporation from 1945 to date in respect of houses which have been built during these years or are at present in course of construction, and the amount of interest and capital repayment paid on these amounts to date.
Ceisteanna—Questions. Oral Answers. - Cork Corporation Loans.
As the reply includes a tabular statement I propose, with your permission, a Chinn Chomhairle, to circulate it in the Official Report.
Following is the statement:—
In December, 1948, the Cork Corporation were authorised to borrow by way of stock a sum of £400,000 for the financing of their housing schemes and that sum was raised during the following year. The post-war housing schemes of the corporation had been previously financed partly by utilising balances of loans borrowed in 1942 and 1943 from an insurance company and from the Labourers Cottage Fund, and partly by way of overdraft. It is understood from the local authority that at present the overdraft on the Housing Capital Account is £125,240.
The annual charges on these borrowings, segregated between interest and repayment of capital in each of the years 1944-45 to 1949-50 were, it is understood, as follows:—
|
Year |
Interest |
Capital Repayment |
||||
|
£ |
s. |
d. |
£ |
s. |
d. |
|
|
1944/5 |
1,402 |
3 |
5 |
Nil. |
||
|
1945/6 |
1,400 |
9 |
5 |
158 |
5 |
6 |
|
1946/7 |
2,533 |
17 |
10 |
164 |
13 |
5 |
|
1947/8 |
2,301 |
13 |
8 |
171 |
6 |
5 |
|
1948/9 |
1,846 |
10 |
1 |
7,628 |
4 |
10 |
|
1949/50 |
5,454 |
9 |
10 |
2,096 |
17 |
11 |